a crude alert. oil surging to yet another 2019 high the white house laying down the law on iranian oil exports gasoline prices also likely to move higher. brace yourself for an earnings deluge three big stocks about to report their results. we'll break down what you need to know. facebook lawyering up. tapping a former top state department lawyer as its chief legal counsel. elan musk's 2020 vision. what the tesla ceo said about the future of driving that is getting a big buzz this morning. and we are firing up the old worldwide exchange time machine.

we'll take you all the way back to 1985. break out your mullet. what happened on this 9/date 34 years ago will forever change marketing. wor worldwide exchange begins right now. is that stopping from 34 years skparks let's keep it that way. here's how your money in the global markets are setting up their tuesday morning. stock futures not giving us any indication of which way this market wants to go right now remember yesterday we showed you whether or not stocks were stuck? well, it appears that way right now. the dow is down yesterday. the other major averages, of course, they crept just slightly higher every time the nasdaq 100 moves higher, that is another record high technology continues to lead these markets, but the nasdaq one higher 100

up .3% the big money story, though, of course, was not equities yesterday. it was oil crudes move higher crude up nearly 3% yesterday it is higher again today up about .8% the president's tough new stance on iran, the reason for that move, and we will have much more on that all throughout the morning here on worldwide exchange overnight in asia we saw some of the markets come back to trading. the japanese markets closed higher again they've been kind of creep and clawing and inching their way up chinese domestic market was down, and the yourp even markets after a monday easter holiday off are back trading as well it is a mostly down market, but take a note of the ftse 100 in the u.k. brexit or no up .3%. that, my friends, a new six-month high for the u.k. equity market. this very strong start to the year that we have seen globally is going to be tested soon because this week 30% of s&p 500 companies will report their

earnings there is a lot riding not only on the earnings themselves, but in the guidance the companies give about their business going forward. joining us now to talk about it is dan kemp, chief investment officer of emea at morning star investment management. dan, welcome back. good morning good to see you again. how important is this earning season not just in the united states, but globally >> good morning, brian yes, i think it's likely to be a very important week for the short-term outlook for markets, but i think it's really important as investors to take bait of a step back and look at the longer term outlook where long-term valuation driven investors at morning star and so we try to look thanks a lot the short-term announcements and really look at the overall opportunity set for investors. while this week obviously shorter term investors traders market participants will be

looking for reassurance because weave seen a really strong rally in equity proouts prices over the last few months. as longer term investors, we see an unattractive opportunity set. unless there's some really strong supplies in earnings, the outlook is not as good as it usually is >> unattractive. those are not exactly the most bullish words we have ever heard, dan does that mean you are negative on equities or simply not optimistic that maybe the year's gains have already been made for most of the developed markets? >> well, we should never be too confident about predicting where prices will go next, but certainly we were more optimistic about prices at the beginning of the year than we are now. we've seen a very sharp rise, as you were saying. as we look forward, most equity

markets that we see look to be either a little bit above their fair value or in the case of u.s. equities, a long way above the fair value really unless there's something to change that fair value, then we would expect low terms going forward. >> do we stay on the sidelines and wait for things to fall? do you think things will fall? they could continue to tread water. if we look at some more attractive markets like the u.k. equity market you mentioned despite brexit, equally japanese equities, they look to be trading near fair value. you get near a normal return out of those markets in the

long-term. when it comes to some of the more favored u.s. equity markets, for example consumer discretionary, to us they look fundamentally over valued, and so we would have far less in those sectors than we would normally have. far less in the u.s. equity market than we would normally have >> a viewer listens to you dan, smart insight says i'm going to listen to dan kemp and sell technology i'm going to raise some cash we're holding more cash than we would normally in portfolio tiz moment typically when equities look unattractive, people normally tilt their portfolio more towards bonds. what we see at the moment bond markets also look fairly unattra unattractive particularly if we look at the u.s. yield curve, they're not really getting paid to take any

longer duration risk because the yield curve is so flat in that sort of circumstance we're tending to hold more cash. some of the individual sectors look attractive, but also it's worth remembering that nobody should be overconfident in their prediction just because markets are unattractive now doesn't mean that it won't it's not all or nothing. it's about appreciating that on average returns are less than they normally are, and they're taking less risk than you normally would >> rather pessimistic view on u.s. equities there. dan kemp, morning star we appreciate your views

thank you very much. let's get you now up to speed on some of the morning's or top business and money headlines. for those let's go to frank holland. frank. >> good morning. we're going to begin with facebook making new hires in critical positions the social media giant is naming jennifer newstead its new general counsel. she is currently the legal advisor to the u.s. state department, but as facebook works to rebuild its image after a series of user privacy issues, her hire may be controversial. facebook also making john its vice president of global communications he previously held communications jobs for microsoft founders bill gates and paul alan. now to some tesla news elan musk making a really bold forecast saying that tesla will have one million robo taxis on the road by next year. >> self-driving this year. we expect to be confident enough from our standpoint to say that

we think people do not need to touch the wheel accident look out of the window. sometime probably around second quarter of next year, and then we start to expect to get regulatory approval at least in some jurisdictions towards the end of next year >> just a few hours after that bold prediction, you can see tesla shares are up almost a half a percent now to a one-time star of the silicon valley a california judge will decide a trial date for theranos founder. she faces prison time and $it million in tienz for misleading patients, doctors, and investors about the company's results and financial health brian, back to you >> all right, frank. thank you very much. so much down so much still to do on this busy tuesday. up next. can the uae and saudi have ied finish gas on -- can iran exemptions end we'll go live to abu dhabi for the latest pluts, a tale of two retailers one in wall street's doghouse. the other partying like it's is the 1995 and why cheaper may be

better then, the latest on samsung after it holds the pressure of what was supposed to be the next big thing. we're back after this. so with xfinity mobile

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zpleerchlt sending prices to fresh 2019 highs it's prompted a sharp reaction from iran. that vital oil choke point in

retaliation. what we've also seen is responses from the top importers of iranian crude as well, including china, india, and turkey they all feel particularly hard done as a result of that waiver cancellation bottom line, though, brian, what this also means is that there is a renewed focus in the market as we come into thisvery, very important joint ministerial committee meeting happening next month in saudi arabia and also the june opec meeting. it removed the emphasis for these major producers to extend the opec production cuts into the second half of the year. it's also very interesting to see what the united states is going to do next as well on iran analysts have been saying that perhaps this decision also means that the u.s. won't go ahead with a secondary wave of sanctions on venezuela that's going to be interesting to watch as well we've seen prices run up significantly hard on this, and as you pointed out as well, we have brent crude nearing 75 u.s. a barrel >> yesterday, dan, we had the

president come out with a statement for the white house saying that, you know, while this is happening, don't worry we've talked to the saudis and talked to the uae. they are standing ready to make sure the global oil markets are well supplied, but you are there in abu dhabi in the uae. is there a sign that indeed they have enough oil, enough reserves, enough production ability to fill any global supply gap >> the uae is significant, brooirn. we know this is a major opec producer, and the abu dhabi national oil company in particular has been investing very heavily in building out its spare production capacity. at the moment it produces about three million barrels per day, and it says it can pump more if asked. although the main swing producer for the global oil market we know is saudi arabia, and the saudi minister has also said that he stands ready to work with other major producers to insure that the global market remains balanced

of course, saudi arabia has significant spare production capacity as well because it has been shouldering the burden of this 1.2 million barrel production cut that was a grade at the start of the year it's unclear if they're going to turn on the taps in response to this >> that's a lot to discuss in the upcoming opec meeting in june joining us now, daniel tan enbalm, sakes leader at twe. good to see you. >> thanks for joining us >> the president and secretary of state pompeo. they want to bring iranian oil exports to zero. can they will they? will it work >> can they? no will they try? yes. i think a big part of this and you guys just touched upon the uae saudi connection is the uae and saudi had a bit of angst after the deal was announced that the u.s. would pull out of

the iran deal and begin to phase down a number of different transactions i think they initially thought that that would benefit them more immediately, but then the u.s. issued those exemptions to eight countries allowing them to trade for an additional six months some of this does seem to be making good to the saudis and the uae on a deal that to a certain extent benefitted them more than others in the region >> china and india are the biggest buyers of iranian crude oil. they need that oil >> yes >> do you think that they will either on the black market, whatever it is, continue to buy oil defying the sanctions? >> what i suspect could happen and india has already begun calling for kind of additional consideration for some of the close allies of the u.s. to give them additional wind-downtime is potentially waivers, but they'll come up with another term to give them a wind down period you have essentially gichk them two weeks that took most of the industry by surprise to go to

zero when this is not an immediate supplier that can just step right in and support that >> okay. well, to be fair, listen, we interviewed michael pompeo back on march 12th, and he said we want to bring iranian exports down to zero if you listen to his words, you saw this company india should have seen this coming do you believe that porpeo, dough spite his tough words yesterday may waiver a little bit on these waivers >> i think there's been some predictability issues on how the u.s. has managed sanctions related challenges if you look at the situation with iran, i mean, the u.s. has done nothing but rachet up pressure just a couple of weeks ago they designated the revolutionary guard as the foreign terrorist organization a branch of the iranian government something that hasn't been done before that being said, i do think to actually accomplish this is a little different some of the banking related transactions, they attempted to shut down last summer, had largely been ceased anyway.

i think there might be underestimation of how easy it is for its allies to switch to another supplier, and i don't think that may 2nd will be enough time. so think about the big picture here right now we're in a sensitive moment in our trade negotiations with china there's been some positive developments there's talk about a meeting in may or june. this move is kind of a slap at china. right when we're in the middle of the other sensitive negotiations >> when we had issues with north korea just about a year ago they threatened to go after chinese financial institutions in retaliation for supporting the north korean regime through

secondary sanctions authority. this just becomes another issue, and i think the chinese have become somewhat numb to different mechanisms the u.s. is using to essentially not necessarily target china, but take steps that kind of have an adverse reaction on the chinese market they may be used to it at this point. >> quick question. if you had to lay wagers, do you think india and/or china will continue to buy iranian oil legally or illegally it's not their law you understand my point. >> yes >> they'll continue to buy iranian oil? >> i would be hard pressed think they will be at zero by next week >> we're going to track some of the shifts always a pleasure to get your insight. thank you very much. good morning staying with oil and gas news, it is the world's fight over oil, the global liquified natural gas market continues to heat up. exxonmobil making a major deal with china overnight they will supply china with lng for 20 years many of the details are still unknown. price, typing, where exxon plans

to source the lng. the deal comes exxon makes a big push into the lng market the company says it will begin dlifg supplies early next year they're making a $10 billion bet with the country of qatar in texas. lng facility called golden pass. keep your eye on that one. all right. when we come back here on worldwide exchange, what trade war? shares of whirlpool surging this morning. we're going to find out why. it is the rally finally stalling out after a big start to the year why your next guest says the majority of the year's gains play already be in the books we'll press him on that call bhurn right after this fund? 529 plan? a 10-k? what's an etf? an ipo? 401(k)? where do i start? empower yourself with the free tools and resources on investor.gov. before you invest, investor.gov. you should be mad at leaf blowers. [beep] you should be mad your neighbor always wants to hang out.

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the united states postal service makes more e-commerce deliveries to homes than anyone else in the country. >> who says luxury retail is where all the money is take a look at this. call it a tale of two retailers. dollar tree and nordstrom. nordstrom is on your right that is, of course, a high-end retailer it is hitting multi-year lows in the equity market. on the other hand, little old dollar tree on your left that green line going down and up to the right. dollar tree hitting all-time highs. cheaper. making investors more money. let's go now from washington -- or to washington from wall street where congress may still be on easter break, but things are heating up on capitol hill northbound's tracie potts joengs now with more on the latest daily d.c. drama tracie >> it's always drama here in d.c. good morning the latest is that democrats are split over whether to impeach

president trump on obstruction coming out of the mueller report, but they do agree that they need to keep digging. >> it's a house divided. some democrats think there's already enough evidence to impeach president trump on obstruction of justice >> are you worried about impeachment, mr. president >> others insist it's futile because republicans in charge of the senate would never find him guilty >> they want to do that, they can. i think the american people would like to move on from this. >> democrats discord spilling out on a conference call to map out how they'll continue special counsel robert mueller's investigation. we all firmly agree that we should proceed down a path of finding the truth. the judiciary committee has subpoenaed former white house lawyer don mcgann. according to the mueller report, mcgann threatened to quit instead of carrying out president trump's instructions to fire mueller. >> we have to hear from other

people, like don mcgann. we have to get the entire report >> it's been subpoenaed the justice department provided a fuller version democrats refuse to review it. >> so mcgann's subpoena, the report subpoena, and there's a third one, too house oversight committee is trying to get their hands on financial records for president trump's businesses his attorneys have gone to court, brian, to fight that. they want to block it. >> all right tracie potts in d.c. tracie, thank you very much. have a great day see you tomorrow still to come, get ready for an absolute deluge of quarterly results. it is the busiest week of earnings season. more than 140 s&p 500 companies are going to show off their numbers, including a dozen dow stongs and two big fang names. the bulls looking to take lyft for a spin despite the stock being hammered after its ipo what the analysts are saying that may give the bulls on lyft a lift stick around

zpliefrmts watch out for gas prices oil moving higher again this morning. the president's get tough plan on iran soon to be felt at the pump sharpen your pencils and brace yourself for a barrage of big earnings the names you need to know and why they matter to this market rally. and why today is a day that will always live in marketing infamy and proof if you needed it that newer isn't always better it is tuesday, april 23rd, and

you are watching cnbc, first in business worldwide welcome back, and good morning. thank you for being with us here on cnbc. just about 5:30 here on the east coast. futures are exactly flat right now. there is a lot going on outside of futures let's get a check on the morning's or top headlines, including the latest on the investigation much the devastating easter bombings in sri lanka. marley hall has more >> hey, brian, good morning. a nashlg day of mourning has been declared in sri lanka after explosions rocked the nation's capital killing at least 300 people on easter sunday. sri lankan authorities say 31 victims were foreigners from at least 12 different countries, and hundreds more were injured officials are blaming a radical islamist group for the attacks, but no organization has claimed responsibility zbliefrmt now to a major gay rights case taking center stage

at the supreme court the justices have agreed to consider whether existing civil rights laws make it illegal to fire gay the justice wills taer cases for people who claim they were fired because of their sexual orientation, and another that involves a funeral home employee that was fired after disclosing she was transitioning from male to female. flo one was injured. officials say ten other nearby buildings have also been evacuated as a precaution. brian, back to you

zpliefrmts just dwo stories that frank has in your executive recap right now. >> here's what's leading cnbc.com right now fab is hiring jennifer newstead as its new general counsel newstead a long history in government she helped to draft the patriot act during the george w. bush administration and serbed most recently as legal advisor at state. this morning facebook shares, well, they're up just fractionally now to tesla news. ceo elan musk is saying that he is very confident that the company will have over one million robo taxis on the road by next year musk also predicting tesla will be making cars with no steering wheels or pedals within two years. now, he did admit that sometimes his predictions are overly optimistic, saying sometimes i'm not on time, but i get it done that's a quote this morning tesla shares, just slightly down. now to some news in the banking world. barb lays is planning to cut bonuses to its investment bankers. the plan is part of a cost-cutting drive to really boost returns at the

underperforming investment division that's according to the financial times. barclay shares are down more than 2% in the early trade over in london. those are your headlines brian, back to you >> frank, thanks very much see you in a bit stock futures are about as flat as the earth used to be. we are seeing dow futures implied down 15 points earnings are about ready to roll out. get to that in a second. the big money move lately has been with the price of oil a three plus percent jump yesterday, and we are higher again today.

it is a cornucopia of corporate resuls this week more than 140 of the s&p 500 are out with their numbers this week alone brsh vevz already giving outsized reward to companies who have beat on the bottom line, according to fax the question is this what do these numbers this week -- what guidance do they give mean for the health of this bull market and what has been the beststart to a year in man years? joining us now is mark, president of potomac wealth advisors we had a guest on yesterday. not to destroy the entire story we had yesterday who said that ernsz are okay, but the fedding matters a lot more than corporate results. would you agree with that? >> well, it depends where we are in the cycle

i don't imagine a four, six, or eight-month reversal that would be a total capitulation i think the fed will stay static from here and let the work they've done shake out the rates have risen to -- they have that cushion that they wanted i think the blend between where the inflation rate is and growth rate and the interest rate structure is kind of a sweet spot for them to say what can the economy do i don't look at the fed as meddling right now i think the economy and earnings are going to be the story. >> dp earnings come in with high single digit growth rates, is that going to be enough to justify the 17% gain in stocks that we have seen this year, mark >> well, i think that's the earnings expectation that this rally has been built on. once the fed took themselves out, we can have earnings growth

maybe it's midsingle digits, maybe it's high single digits. that can justify the levelled we're at my concern is that people are getting used to -- investors are getting used to these good few days where we're up 20% year-to-date on the growth side of the ledger, and thinking that we can extrapolate that out for the rest of the year the reality is we are now back to a market valuation that is similar to where we were in q4 of 2018. we have one right now, but they have modest earnings you mention higher oil prices. we'll start to see slight headwinds for the consumer, and i think it's going to be more of an expectations management gain. individual stocks doing well on good news, but the overall market chugging along at a slower pace. >> yeah, okay. need i remind our audience what happened in the phenyl month of the fourth quarter of last year. august of november okay. december was an unmitigated disaster with one of the worst decembers going back to the

great depression do these valuation levels, mark, need to worry us are we priced to perfection where if the numbers aren't good or the guidance isn't good that the market could do what it did back in december >> i don't think the bottom will fall out like we saw december it's more of a cautionary word when we look at global growth rates and the imf are taking down -- is taking down growth rates in the youro zone, in the u.s., where is the global growth that's going to stimulate dough manned how are earnings going to grow in line with an expanding economy? that's where i see it more stalling as opposed to falling out. that's why i say investors have to be realistic about returns from here on out, and expect volatility when you are at these lives, any bit of bad news -- for instance, if the china trade talks stumble or come out with something surprising, we don't have a lot of cushion those are more of the jolts that

i'm worried about. >> is this the gain for the year it's april 23rd, for pete sakes. i hate even saying this, but are the gains for the year on a macrolevel, individual stocks are going to do what they want on a macrolevel, have the gains for the year been put in >> i think the jorlt of gains have been put in to stocks i think that if earnings are strong, we could see it chugging a little higher, but i don't see us up 25%, 30% for the year. of course, mathematically, the most of the gains have been baked into stocks. that's why i keep going back to managing expectations and expectation volatility, but i don't think it's going to fall through the floor. >> how do we make money for the remain, what, eight months of the year, mark >> i think you continue to invest what's gottest us here, certainly the growth side and tech names continue to astound i think it's because you have top line you have real growth there

i think the spreads are a real problem and the cost of funds is creeping up with competition from internet banks and elsewhere, and i don't think that's been fully discovered i think that's what some of the earnings compression is. if they can break through and get some better trading, better m&a because we see a lot of m&a this year, i think if financials can come up and surface as earnings growers, that could be a real boost for the market. >> yeah. by the way, we've got a fed meeting and rate decision next wednesday. not tomorrow in eight days. a lot will be riding on that always appreciate your views thank you. >> good to be here thank you. washing machines >> neighbor, maybe some good news for the beaten up bulds in

that stock. analyst call, numbers whatever it is. could have an outsized -- rounding it out, we're keeping an eye on shares of samsung. company dlags now the release of its $2,000 foldable phone after several reviewers, including todd hazleton here at cnbc found that the phone screen can break or simply stop working samsung says the phone needs further improvements shares of samsung finishing lower overnight in south korea still on deck here on worldwide exchange, there is still time to crack open a bottle of your favorite soda on the cheap in california it may not last for long then why elan musk says if you

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not exactly the middle of the night there in chicago

maybe they're still coming out of the bars on rush street who knows? it is time for the morning -- hi. zmienchts lawmakered didn't have enough support the measure has drawn a lot of criticism from the beverage industry and grocer groups lawmakers are expected to take up this measure again next year. now to a viral video alert the fight happened on sunday night. the person in the bunny costume actually stepped in to defend a woman. you can see him throwing several punches before an officer steps in and breaks up this fight. right now it's unclear if anyone was arrested

it brings a new meaning to rabbit bunch >> nice. >> elan musk making a bold call about the future of driving. lisp to what he had to say >> the fundamental message that consumers should be taking today is that it's financially insane to about buy anything other than a tesla. they will be like owning a horse in three years i mean, fine, if you want to own a horse, but go into this can that expectation >> musk making those bold comments at an event in california late yesterday. he also said tesla will have robotic taxis. one million of them on the road within a year. >> they were electric. >> the combustion engine came along later? >> the car took a job of the horse. >> thank you >> thank you, sir. zbliefrmgt on deck, the one sector that just might be the old canary in the coal mine for your money we'll tell you what it is and why you need to be paying

attention to it. that's as we head into deep, deep earnings. plus, crack open a cold soda we're firing up the worldwide ek change time machine. this is random but interesting one of the worst marketing decisions in the history of marketing decisions. stick around to help keep you on track. and closer to home. edward jones grew to a trillion dollars in assets under care, by thinking about your goals as much as you do. ♪ ♪ applebee's bigger, bolder grill combos. now that's eatin good

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so, every day, we put our latest technology and unrivaled network to work. the united states postal service makes more e-commerce deliveries to homes than anyone else in the country. welcome back futures down 14 points right now. no real indication of which way this market wants to go. me thinks that we should find out soon because it is a huge day and an even bigger week for your money earnings are coming out in full force.

>> as we talk about financials, they are important because those financials really are setting the tone for the earnings season why? because about two-thirds of the s&p 500 financials are already out with their earnings reports so we do have a pretty good look at what's happening. take a look at some of the stats as they stand right now. first of all, you've got two-thirds of the companies coming out with their numbers. 63% have actually beaten earnings estimates and 41% slightly lower there have beaten the revenue estimates as well. if you take a look at where th earnings growth numbers are standing take a look at this. as we take a look at the earnings growth rate of every other company in the s&p 500 financials reports as expected, you'll get 6.3% earnings growth. that's the best in the s&p, by the way. revenue growth 5.1%. and take a look at some of the overarching themes that we have going on with regard to the

sectors and how they're developing the technology sector etf in the orange line. wufrt best performing sectors of the year big reelkal banks come out we'll see if they set the tone even further back to you. >> can we ask you to come join us on set? >> i would love to come join you where. >> thank you dom is moving over here, and right now let's bring in sylvia, managing director of capital markets. we have the full roundtable going here sylv sylvia, how much money has been flowing into your tecl that is the three-times levered tech bull etf of 83% this year.

forget december. it seems like first quarter was up it's up 83%. why? you know, apple up 20% google up 20 berz. microsoft up 20% growth in services, growth in a.i., growth in cloud i think software is a good place to be, and we think there's a lot of momentum behind technology in general. our feeling is just the markets run a lot from the december bottoms. it's time to become a little more cautious. we're back to almost all-team highs. valuations are around, let's say, 16.8 times earnings for the s&p 500. we're getting back above our recent averages of let's call it, you know, 16 plus we often

talk about this idea about leading the next leg higher in bull market. if you take a look at footballs year-to-date, it hasn't been the banks that have been driving the financial performance. bhaets curious is we focus so much on the banks. we focus so much on the yield curve. it's not necessarily those banks that are the ones that are helping to prop up the financials so far. >> i hate to use the terms tech and financial -- they're so big, right? so broad there are so many submarkets where are you seeing interest for direction clients outside of technology or even deep inside of technology.

we've seen flows going into there. probably the next tech people often ask us what could be the next tech if apple is at the top and microsoft is at the top and google is, you know, sort of topped out we love a.i. if you look at -- we have an etf called you buy it's robotics and artificial intelligence it's sensors and robots in japanese factories to help them grow their gdp as they struggle with an aging population it's intuitive surgical. that's up year-to-date 105%. every day we open the paper. big banks investing in ai. big banks investing in robot, becoming more fin tech the financials that are moving the market are changing. >> chris, sylvia said oh, gee, right? i got another one for you. original greenspan do you remember irragsal

exuberance he said that the market shuddered and did rise for years after that do you believe with 83% gains on this triple levered bullish etf that sylvia talked about we're getting a little extreme in our exuberance i think if you look at certain other subsectors and things like that, again, we think semiconductors have run quite a bit. we think home builders have run quite a bit. those are areas where, again, we would be more cautious we believe in the long-term trends it's just in the short run as the market has run up as much as it has, there has to be pullbacks along it is way. we think sentiment is starting to get overdone on the positive side.

>> they're trading around 14.6 times earnings they're still revenue in earnings growth there. they've been left behind during this rally if the market does continue to move higher over the next year or two as we believe it will, then you want to be in some of the parts of the market that have lagged so far because they will catch up eventually >> quick comment >> really quickly, sylvia, i'm thinking of consumer staples everyone seemds to love them there has to be down side risk there. >> well, i think with consumer staples it's what is the long-term trend of the market. you have persistent demand and persistent income in staples, and a lot of the things that i look at are short-term i think in the short-term, we see the growth in the cyclicals booming, and i think when the market starts to pull back, we will see shifts going back into health care and back into consumer staples in the late cycle performers you know, for now i think it's less exciting than some of the growth here in -- >> 83% gain in the triple levered tech thank you. >> chris, thank you. >> dom, thank you.

all exciting we appreciate it. >> coca-cola brought back the oshlg. coke has regained its mojo, but now let's again random in a way that only cnbc can since that fateful day, coca-cola shares have returned 7,150% that's pretty good until you see that pepsi has a total return of 9300% in that time investors certainly love the taste of that. now, who knows if it was related to the new coke saga or not. when it comes to the stock market soda challenge, pepsi has been the better choice of an investing generation

"squawk box" starts right now.

good morning an earnings alert. four dow components set to result before the opening bell we'll get you ready for the first two expected just snt next hour elan musk says that tesla will have one million robo taxis on the road by next year. do you believe that? well, we'll have all the highlights from the company's autonomy yesterday we'll do all that straight ahead plus, who is buying your data? cnbc taking a closer look at the information that's collected, packaged and sold every time you make a purchase. not just on-line it's tuesday, april 23rd, 2019

"squawk box" begins right now. ♪ live from new york where business never sleeps. this is "squawk box." good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with andrew ross sorkin and wilford frost. you are going to see right now that things are weaker dow futures down by 15 points. s&p futures off by one, and the nasdaq is down by just over two and a half points. this comes after a mixed day yesterday. you did see the dow down by 48 points 48.5 points. that's about where it was at this time yesterday morning. indicated down by that much. the s&p was higher it was up by almost three points, and that was helped in terms of crude oil prices. you saw crude oil prices up 2.5% sitting at a s